At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The position is an individual contributor role residing within the Bank’s Second Line of Defense Risk Management and Compliance organization. Specifically, this position supports the Model Risk Management (“MRM”) program at the Bank. The overall MRM program is designed to provide governance and control to manage financial models and associated risks that may impact the company, including financial, liquidity, market, operational, reputational, strategic, and other risks as appropriate. Validation Analysts within MRM provide independent validation of models that the Bank relies on for making financial decisions. A robust and comprehensive model validation comprises steps that independently challenge a model’s conceptual framework and methodology, data used in the model, implementation process, as well as model usage and performance. The validation process also identifies corrective actions to ensure timely remediation of model risk.

The individual in this position works with Model Owners and Developers to validate models related to the Bank's Financial Crimes (Anti-Money Laundering, Economic Sanctions/OFAC), adhering to OCC 2011-12 Regulatory Guidance and USB's Model Risk Management Policy and Standards. He/she will document and present the model validation findings to model owners, developers as well as interface with key stakeholders, regulators (OCC/FRB), and internal auditors to discuss the justification and reasoning behind various validation and review findings.

Essential Functions:

Performs complex mathematical analysis utilizing various statistical and mathematical methods or techniques including rule based, logistic regression, machine learning and various other ensemble techniques.  Validates both custom built models and third-party proprietary models. Independently validates, tests, documents, and/or oversees usage of advanced quantitative models.

Deliverables include the creation of validation documentation such as: presentations, written reports, validation benchmark models and support for identified concerns and proposed enhancements. Retrieves, analyzes and interprets data from various sources (internal and external). Aggregates and creates data from different databases to facilitate statistical analysis for development or validation. Performs ad hoc analysis used for statistical/econometric analysis as required. Interprets findings from statistical analyses performed for communication to senior and executive level management in written and verbal form.

Prepares and communicates statistical analysis and findings to audit and regulatory examiners. Reads, understands, and interprets regulatory rules and guidance related to the models under development and/or being reviewed/validated.

In addition, quantitative resource should understand the business product or structure to ensure models capture key business elements and risks. Ability to understand and use various programming languages to identify, investigate and resolve data and programming issues.

Basic Qualifications

-Bachelor’s degree in a quantitative field required with at least 8 years of relevant experience

OR

- MA/MS in a quantitative field, and five or more years of related experience
OR
- PhD in a quantitative field, and four or more years of related experience

Preferred Skills/Experience

Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance.

Excellent verbal and written communication skills are necessary (ability to explain complex ideas in simple, non-technical language).

Strong mathematical and statistical modeling or model validation experience in Financial Crime Models (AML, Economics Sanctions and Customer Risk Rating).

Advanced understanding of applicable compliance laws, regulations, financial services, and regulatory trends that affect assigned line of business.

Prior exposure to validation or development of BSA/AML models, or Artificial Intelligence and Machine Learning Models.

Ability to build strong relations with stakeholders, business line partners, and colleagues across the bank.

Understanding of Machine Learning is a plus.

NOTE:  This role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

Healthcare (medical, dental, vision)

Basic term and optional term life insurance

Short-term and long-term disability

Pregnancy disability and parental leave

401(k) and employer-funded retirement plan

Paid vacation (from two to five weeks depending on salary grade and tenure)

Up to 11 paid holiday opportunities

Adoption assistance

Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.  

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $111,605.00 - $131,300.00 - $144,430.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.